Invesco (NYSE:IVZ) Stock Price Down 0.4%

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Invesco Ltd. (NYSE:IVZ) was down 0.4% during trading on Thursday . The stock traded as low as $15.19 and last traded at $15.26, approximately 2,198,710 shares changed hands during trading. A decline of 66% from the average daily volume of 6,473,599 shares. The stock had previously closed at $15.32.

Several research analysts have commented on IVZ shares. Deutsche Bank set a $21.00 price objective on shares of Invesco and gave the stock a “hold” rating in a research note on Friday, July 26th. Jefferies Financial Group lowered shares of Invesco from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $24.00 to $23.00 in a research note on Friday, June 7th. Citigroup set a $20.00 price objective on shares of Invesco and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Zacks Investment Research lowered shares of Invesco from a “buy” rating to a “hold” rating in a research note on Wednesday, May 22nd. Finally, Barclays set a $21.00 price objective on shares of Invesco and gave the stock a “hold” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $22.36.

The stock has a market capitalization of $7.54 billion, a PE ratio of 6.26, a price-to-earnings-growth ratio of 0.80 and a beta of 1.51. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The stock’s 50 day moving average price is $19.09 and its 200-day moving average price is $19.81.

Invesco (NYSE:IVZ) last issued its earnings results on Thursday, July 25th. The asset manager reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.08. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion. Invesco had a net margin of 11.45% and a return on equity of 10.23%. The business’s revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.66 earnings per share. As a group, sell-side analysts predict that Invesco Ltd. will post 2.42 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 8.16%. The ex-dividend date of this dividend is Wednesday, August 14th. Invesco’s dividend payout ratio is currently 51.03%.

In other news, major shareholder Ltd. Invesco acquired 2,222,222 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was purchased at an average cost of $4.50 per share, for a total transaction of $9,999,999.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director G Richard Wagoner, Jr. acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was purchased at an average price of $20.71 per share, with a total value of $207,100.00. Following the completion of the acquisition, the director now directly owns 25,648 shares of the company’s stock, valued at $531,170.08. The disclosure for this purchase can be found here. 1.90% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its position in shares of Invesco by 42.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,047,946 shares of the asset manager’s stock worth $84,501,000 after acquiring an additional 1,507,660 shares in the last quarter. Geode Capital Management LLC boosted its position in Invesco by 13.9% in the fourth quarter. Geode Capital Management LLC now owns 5,884,507 shares of the asset manager’s stock valued at $98,348,000 after buying an additional 717,941 shares in the last quarter. Millennium Management LLC boosted its position in Invesco by 115.1% in the fourth quarter. Millennium Management LLC now owns 54,833 shares of the asset manager’s stock valued at $918,000 after buying an additional 29,347 shares in the last quarter. State of Alaska Department of Revenue boosted its position in Invesco by 1.2% in the first quarter. State of Alaska Department of Revenue now owns 97,605 shares of the asset manager’s stock valued at $1,884,000 after buying an additional 1,126 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in Invesco in the first quarter valued at approximately $682,000. Hedge funds and other institutional investors own 65.07% of the company’s stock.

About Invesco (NYSE:IVZ)

Invesco Ltd. is a publicly owned investment manager. The firm provides its services to retail clients, institutional clients, high-net worth clients, public entities, corporations, unions, non-profit organizations, endowments, foundations, pension funds, financial institutions, and sovereign wealth funds.

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